Klover Cash Advance App Review: What You Need To Know

Quick take: Klover offers a financial app that helps consumers access interest-free cash advances without a credit check. You can borrow up to $750 with no credit check.

Klover At a Glance

• Max advance: $750

• Fees:

  • Instant transfer: $1.49 to $19.99

  • Klover+: Up to $9.99

• Interest: 0%

• Credit check: No

• Repayment: Next paycheck

• Speed: 1 to 3 business days or instant

• Best for: People with steady paychecks

Key Takeaways

• Klover offers interest-free cash advances up to $750 with no credit check or mandatory fees, and repayment comes straight from your next paycheck. Most users start with smaller amounts between $25 and $750 based on income and account activity.

• You trade personal data for larger advances by sharing your location, linking your Amazon account or taking marketing surveys. Instant transfers cost $1.49 to $19.99, and the optional Klover+ subscription runs up to $9.99 per month.

• Choose Klover if you get steady direct deposits and need a small boost between paychecks for groceries, gas or utilities. If you want bigger limits or stronger privacy, compare Earnin, Dave or Brigit before you sign up.

Summary generated by AI, verified by MoneyLion editors

What Is the Klover App?

Klover is a financial technology company founded in 2019 in Chicago, Illinois. Its company mission is “to provide every American with the right to financial freedom.”

Klover provides a cash advance app that allows you to request a balance advance of up to $750. Most users find that they'll receive an amount between $25 to $750. There’s no credit check or interest charged. The repayment occurs on the date of your next paycheck.

MoneyLion offers a service to help you find personal loan offers. Based on the information you provide, you can get matched with offers for up to $100,000 from our top providers. You can compare rates, terms, and fees from different lenders and choose the best offer for you.

Klover App Pros and Cons

Here are the biggest pros and cons of the Klover app:

Pros

• You can get a cash advance up to $750 without a credit check.

• There are no mandatory fees.

• You can use an external checking account to link to the Klover app.

• The security level on the Klover app is the same as most banks.

Cons

• Fast-funding fee is higher than competitors and range from $1.49 to $19.99 depending on the amount requested.

• Cash advances are on the lower end.

• To unlock larger advances, you may need to provide personal information — links to your Amazon account, share your GPS location and take marketing surveys.

Klover App Features

Here are the features of the Klover app that you may want to consider before signing up.

Advance Amounts

• Amounts: You can access up to $750, but most cash advances fall between $25 to $750.

• Limits: Limits are based on income and account activity. You can increase your limits through the “earn points” feature.

Funding Speed

Funds can be delivered instantly or within one to three business days. You can get faster delivery options if you need funds sooner. Fees will depend on the transaction.

Repayment Structure

On your next payday, Klover will take out the balance owed from your linked account. There are no fees or interest associated with repayment. You'll always receive advanced notification.

Points or Rewards System

There are several ways to earn points on Klover. Having more points allows you to get a larger amount for your cash advances. There's no limit to the number of points you can collect. However, you can't share points between friends.

How It Works

• Enter your name, email and phone number to get started earning rewards.

Activities That Will Earn You Points

• You can watch ads.

• You can play games.

• You can sign up for partner offers.

• You can invite friends.

• You can answer quick questions.

• You can share your location.

• You can connect your retailer accounts.

Mobile App Experience

You can access Klover through Google Play. It's rated 4.6 out of 5 stars. You can also access it through the Apple Store. It's rated 4.7 out of 5 stars.

There are also budgeting tools on Klover. There’s “Bill Manager” that allows you to pull repeated transitions and track them in one place. There’s also “Smart Spending” that shows where you're spending money.

Costs and Fees

Here are some of the costs that are associated with Klover:

• Interest: Klover doesn't charge interest.

• Monthly subscription option: There's a monthly subscription option called Klover+. You can get all the cash advance options plus credit monitoring and smart spending tools.

• Fees for instant funding. Klover will charge fees on express funding that can start at $1.49, depending on the transaction.

• Tips: You don't have to tip. It's optional.

Eligibility Criteria

Curious to know whether you’re eligible to use Klover? Here are the basic requirements:

1. You must be a legal resident of the United States.

2. You must be of legal age to enter into a contract with Klover.

3. You must not be prohibited by law to use Klover.

To qualify for a cash advance:

1. There must be three or more direct deposits from your employer within the last 60 days.

2. All three deposits must be from an employer.

3. Your checking account must be active and in good standing for 90 days or more.

How To Apply

It's really easy to apply and use the Klover App. Here are the steps:

1. Download the app. Download the Klover app on your phone.

2. Create an account. Enter your name, email and phone number to create an account.

3. Link a bank account. Link your bank account so Klover knows where to send your money.

4. Verify income or account activity. Klover will verify your checking account’s direct deposit history.

5. Request an advance. You can request an advance up to $750. New users will receive much less than $750.

6. Receive funds and repay on the next payday. Keep in mind repayment will begin on the next payday.

Klover vs. Comparable Options

How does Klover stack up against Dave, Earnin and Brigit?

Dave

Dave provides cash advances up to $500 through its ExtraCash feature without a credit check, interest or late fees. Dave charges a membership fee of up to $5 to unlock its cash advances. Dave is a better choice for those who don’t mind the subscription fee and those who are reluctant to sharing personal information like location and shopping receipts.

Earnin

Earnin offers cash advances of up to $150 — $750 to $1,000 per pay period — without late fees, interest or credit checks. It’s a better option than Klover since it allows you to access higher limits. It's also better for those who like a tipping model rather than sharing personal data.

Brigit

You can access up to $500 with no interest, late fees or credit checks. Brigit may be better for those who want to be able to change their repayment date and for individuals who are actively trying to build their credit.

Who Is Klover Best For?

Klover is best for those who:

• Receive consistent paychecks from an employer

• Need coverage for small expenses in-between paychecks, such as for grocery expenses, utilities or gas.

• If you're someone who isn't shy about sharing your personal details, like your location, shopping receipts and answers to marketing surveys, you'll likely be a good candidate for Klover.

People may want to consider other options if they aren't receiving consistent deposits in their checking or if they value privacy. Also, those who don’t want to pay a fee for an instant transfer may want to look for another app.

Final Take

Klover's main strength is the ability to access cash without a credit check or paying fees and interest. It’s also best for those who'd like to share personal data, like a GPS location or shopping receipts. Klover is ideal for situations when you need a little boost to cover smaller expenses like groceries and utilities. For those who are gig workers and need a larger cash advance limit, take a look at MoneyLion or Earnin for your needs.

FAQs

How much can you borrow with Klover?

You can borrow up to $750 with Klover — however, when you first use the app, the available amount might be lower.

Does Klover check your credit?

No, Klover doesn’t check your credit.

How quickly can you receive funds?

You can receive funds between one to three business days. You can also receive funds instantly with a fee.

When do you repay a Klover advance?

You repay your Klover advance when you receive your next paycheck. It’s automatically taken out of your linked bank account.

Key Terms

• Cash advance: Money you borrow before payday and usually repay from your next paycheck or bank deposit.

• Credit inquiry: A request to review your credit report. Klover says it does not use one to approve advances.

• Direct deposit: An electronic payment sent straight into your bank account, often for paychecks or government benefits.

• Interest: The cost of borrowing money, usually shown as a percentage of the amount borrowed.

• Instant transfer fee: A charge for sending your advance right away instead of waiting one to three business days.

Sources:

• Consumer Financial Protection Bureau:

  What is a payday loan?

• Consumer Financial Protection Bureau:

  Credit reports and scores key terms

• Consumer Financial Protection Bureau:

  Financial Terms Glossary

Summary generated by AI, verified by MoneyLion editors

Photo credit: fizkes/iStock